260: Treasurer

1. The Treasurer shall serve for two years with the term beginning January 1 following the election of officers. (Bylaws, Article V, Section 4)

2. The fiscal year shall be from July 1 to June 30. (Article V, Section 4)

3. The Treasurer shall be bonded annually. (Executive Board, 10-7-77, p. 2)

4. The Treasurer shall collect all dues and keep all accounts and fiscal documents. (Article V, Section 4)

5. The Treasurer shall present the Association’s annual budget to the Executive Board (Article V, Section 4) Budget requests from the Association units are requested in advance of the summer Executive Board meeting, and these requests may be reviewed and revised before they are submitted to the Board. (Executive Board, 10-2-76, p. 2)

6. The budget will include Association operating expenses and conference expenses.

7. The Treasurer shall be responsible for all funds and shall pay all bills which fall within the adopted budget. (Article V, Section 4)

8. The travel expenses allowed as part of the budget are those of the President and A.L.A. Councilor to attend meetings of the American Library Association and those of the Federal Relations Coordinator to attend Legislative Day in Washington, D.C. when the libraries in which these officers and chair(s) are employed cannot or do not pay their expenses.

9. Those items which exceed budgeted amounts must have the approval of the Executive Board before payment is made.

10. The final financial statement for the previous five years shall be available from the Treasurer at each Executive Board meeting, as shall all records relating to the current budget year.

11. The Treasurer reports on finances at every Executive Board meeting and at the annual business meeting. The Treasurer will provide Executive Board members with quarterly financial reports. Financial reports will show separate statements for any designated special funds (i.e., scholarship funds) and for conference funds.

12. The Treasurer should make an annual inventory of materials and equipment held by N.M.L.A. as capital assets. (Executive Board, 2-1-80, p. 2)

13. The Treasurer keeps sufficient money for operational expenditures on deposit in a checking account. Other money may be placed in certificates of deposit, bonds, or in a savings account or other investments upon the approval of the Executive Board.

14. The Treasurer’s books will be ready for the certified public accountant by July 15 of each year. The Treasurer will suggest a certified public accountant , and when the Executive Board agrees to the certified public accountant, the financial review will proceed. (Article V, Section 4)

15. The Treasurer may rent a post office box if this is advantageous in handling Association business.

16. The Treasurer shall maintain the assigned copy of the Procedural Handbook in good order, consulting the chair of the Bylaws & Procedures Committee about anything in it that may seem to be insufficient, inconsistent or incorrect. The Handbook should be correct and up-to-date when passed on to the succeeding Treasurer.

Calendar of Specific Duties

Executive Board Meetings
Prepares a Treasurer’s Report for presentation at quarterly meetings of the Executive Board.

March-April
Completes conference finances, working closely with the Local Arrangements Committee the Vice-President and Administrative Contractor. Ensures that all bills are paid promptly and cash receipts are secured during conference. Solicits budget proposals from the various units for the following fiscal year to be due by date established by Treasurer.

May-June
Prepares a working draft of the following fiscal year’s budget, in consultation with the Administrative Contractor.

Presents a draft budget proposal to the Executive Committee of the Board for their input and approval.

Prior to the end of the second year of duties, begins the orderly transition to the newly elected Treasurer by training/orienting him/her to treasury procedures in coordination with the association’s Administrative Contractor.

July-November
Presents new FY budget for approval at summer Board meeting.

Closes books on the recent fiscal year after all encumbrances are paid. Submits books to NMLA Board approved CPA for review. CPA also prepares the Association’s IRS form 990 by November. The Treasurer files same with the IRS in a timely fashion by Certified Mail.

Collects dues and continues to pay bills. Verify with President that appropriate documentation and/or form is filed with the New Mexico State Corporation Commission to maintain the Association’s non-profit corporation status. Some conference income and expenses can be expected during this period, so conference books should be set up with the Vice-President. Makes the financial review available for the fall Executive Board meeting.

December-January
Continues to collect dues and to pay bills.

February-April
Intensive period for conference income and expenses. Maintains a close working
relationship with the Vice-President,the Local Arrangements Chair, and the Administrative
Assistant.